EC REGULATION OF UNDERTAKINGS FOR COLLECTIVE INVESTMENT IN TRANSFERABLE SECURITIES (UCITS) Available to Purchase

A large amount of legislation in the field of EC banking and financial services has been produced in preparation for the 1993 deadline for a single market. In some areas the legislative programme has been more successful than in others. This paper examines one field, that of regulation of undertakings for collective investment in transferable securities — more commonly known in this country as unit trusts — and shows how far the aims of the single market legislators have been, and can realistically be, achieved in this context.